A Big Wrinkle in Palin's $150,000 Clothing Allowance(she will owe taxes on them)

[RedEarth]

October 22, 2008 9:24 AM

Following up on that Politico story about the RNC apparently spending more than $150,000 on clothes for Alaska Gov. Sarah Palin...

I wonder if the governor knows that she's going to have to pay taxes on those clothes, even if she ultimately gives them away?

Tax experts say that even if she only wears them for professional reasons -- locked away in a special "candidate" cabinet, say -- Palin will be on the hook for those fancy new duds just as if someone had written her a check for $150,000.

Wonder if she knows that.

http://blogs.abcnews.com/politicalpunch/2008/10/a-big-wrinkle-i.html

[jberryhill]

1. The charity auction value with exceed that

So there will be an offsetting deduction.

[uponit7771]

2. The MsM Keeps saying Obama suite cost 1,500 retail but it doesn't that's a prime market price

...for that suite and there's no way he paid more than 500 for it.

The Obama's just paid off their student loans years ago and they remind me of people who shop at the GAP, Mens store or Target

[underpants]

3. Todd's gonna have to sell a lot of snowmobiles to cover that

Actually Palin will get a book deal (from Regenery at least) and speaking engagements

[Johonny]

4. She won't pay them, won't get penalized

welcome to America where only the middle class get audited thanks to Cheney.

[palintology]

5. The GOP donated them to the State of Alaska ...

I am sure they will find a way to claim they are work related and she doesn't own them.

[leftist.]

7. Change is coming though ...

Just two more weeks :)

[Kierkegaard]

6. I can't imagine she realizes that.

I doubt she knows which end to wipe.

[Neshanic]

8. Oh, a good tax guy could make that a non-issue. A republican tax guy.